GMAC Launches GMAC Real Estate; New Name and Logo Strengthen Real Estate Brand and Services.LIBERTY CORNER, N.J.--(BUSINESS WIRE)--October 26, 1999-- General Motors Acceptance Corporation (GMAC GMAC General Motors Acceptance Corporation GMAC Graduate Management Admission Council GMAC Give Me A Call GMAC Genetic Manipulation Advisory Committee GMAC Genetic Modification Advisory Committee (Singapore) GMAC Give Me A Chance ) announced today that it is launching the GMAC Real Estate GMAC Real Estate is a real estate franchise company in the United States, with 1300 locations in North America, and more than 22,000 real estate agents. The company is a division of GMAC Home Services, part of the larger General Motors Acceptance Corporation, which provides network, introducing the new brand and its logo. GMAC moved into the real estate area with the acquisition of the Better Homes and Gardens Real Estate network in July 1998 and continues to expand its services to customers who purchase and sell real estate. GMAC Real Estate is one of three areas of focus for GMAC Home Services, which provides comprehensive relocation RELOCATION, Scotch law, contracts. To let again to renew a lease, is called a relocation. 2. When a tenant holds over after the expiration of his lease, with the consent of his landlord, this will amount to a relocation. , captive captive said of naturally wild or feral animals kept in captivity for educational and scientific investigation with no attempt being made to domesticate them. mortgage and real estate services. "Strengthening our real estate services network under the GMAC Real Estate brand is a substantial step forward in becoming a recognized leader in helping people realize their homeownership dreams," said Mike O'Brien, chairman of GMAC Home Services. "GMAC is a nationally recognized leader in providing vehicle financing," said Dick Schlott, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of GMAC Home Services. "Millions of consumers also know GMAC as their provider of real estate financing. Now millions more will associate GMAC with the purchase and sale of real estate and other family relocation services Relocation services or "employee relocation" includes a range of internal business processes that are engaged to transfer employees (and often their families) or entire departments of a business to a new work location. ." Expanding Real Estate Presence "As GMAC Real Estate, we bring to Better Homes and Gardens Real Estate and GMAC Real Estate members, and their customers, a stronger, more complete package of services," said Allen Sabbag, president of GMAC Real Estate. "We now have the resources and power of one of the world's largest and most successful financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. companies -- GMAC -- combined with our family service heritage, and our new name reflects that change." Mr. Sabbag said familiar elements in the company logo will remain in the new logo, making it easily recognizable. Transition of the new network name and logo will begin within the Better Homes and Gardens membership in December. GMAC Home Services through GMAC Real Estate has created a strategic plan for the systematic growth of the real estate network. Mr. Sabbag says the network expects to have a dominant regional presence in 12 regions within the top 20 U.S. markets within five years, combining the national scope and power of the resources GMAC has to offer with customized local service. This has led to several key regional acquisitions, beginning with Carlson Real Estate and Carlson Mortgage, based in Woburn, Mass., in December 1998. Additional strategic acquisitions of several real estate companies in the New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. region, including Norwood Real Estate, Landry, Lyons & Whyte Company, Stearns & Yerrall, Inc., Kinlin Grover Properties, Bay Village Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. , and Dallamora Realtors have propelled Carlson Real Estate/GMAC Home Services to nearly $3 billion in sales. August 1999 brought the acquisition of Koenig & Strey, a $2.5 billion real estate sales organization serving downtown Chicago and its northern suburbs. The 38-year-old family-owned firm closed nearly 7,000 transactions in 1998 and was ranked as the 21st largest real estate brokerage firm in the U.S. in the 1999 REAL Trends "Big Brokers Report." Koenig & Strey's complete mortgage, insurance and title businesses were included in the transaction. Comprehensive Growth Strategy GMAC's expansion into home related services began in 1985 with the addition of mortgage services. GMAC Home Services (GHS GHS Globally Harmonized System (of Classification and Labeling of Chemicals) GHS Greenwich High School (Connecticut) GHS Green Hills Software, Inc. ) was founded in June 1998, and a review of its first year shows how GHS has achieved growth through strategic acquisitions. The company has more recently created a presence in real estate brokerage services, broker network services and relocation services. The newly re-named GMAC Real Estate division is comprised of both the national franchise network and company-owned real estate brokerage companies, with more than 1,450 offices and 24,000 agents. GMAC Network Services is recruiting top-quality real estate firms into the Affiliate Broker Program to ensure full geographic coverage and meet client requirements. Affiliates receive referrals through the program, and firms in nearly 100 major population and employment centers have joined the program. GMAC Mortgage is one of the nations largest residential lenders, with over 1.5 million customers and 250 locations nationwide. GMAC Global Relocation Services provides comprehensive relocation services worldwide, assisting more than 21,000 transferring employees in its first year. The company has added strong domestic and global capabilities with the December 1998 acquisition of Morrell & Associates and the July 1999 acquisitions of Windham International and its related company, The Relocation Assistance Cooperative (TRAC TRAC - Text Reckoning And Compiling ), as well as CHA n. 1. Tea; - the Chinese (Mandarin) name, used generally in early works of travel, and now for a kind of rolled tea used in Central Asia. A pot with hot water . . . made with the powder of a certain herb called chaa, which is much esteemed. - Tr. J. Relocation Management, Inc. |
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